To put this in perspective, the Q1 top line is typically the lowest of all quarters due to Chinese New Year travels and holiday overtime compensation that adds expenses.

May 12, 2023 / CFO / receipt, needs a key / Le Yu, CFO | earnings call 2023-05-12 | transcript 1a9692d7-b85b-4b09-a0ae-5e5ed32fb96f | chars 14161-14330 | segment 14

As we move ahead to 2023, we would like to discuss our outlook. Q1s are typically affected by seasonality, according to our track record with lower revenue and profitability. In Q1 2023, we expect a slow season for urban fresh grocery consumption due to the pent-up urge to return home and travel during the Chinese New Year. Nevertheless, despite the seasonality impact and extra frontline labor costs on holidays, We are confident of achieving non-gap break even for both Q1 and the whole year of 2023.

Feb 13, 2023 / receipt, needs a key / Le Yu, CSO | earnings call 2023-02-13 | transcript 1563d675-6762-4cfd-aba9-b7d0c283b279 | chars 16080-16584 | segment 16